Junior creditors of wind turbine blade manufacturer TPI Composites Inc. opposed terms of an $82.5 million financing agreement, saying it would give lenders “excessive control.”
Funds affiliated with Oaktree Capital Management LP make up the senior secured lenders who agreed to provide the loan, which the creditors said is “rife with self-interest” and should be modified before it’s approved on a final basis, an unsecured creditors committee said in a Friday filing in the US Bankruptcy Court for the Southern District of Texas.
Oaktree is in line to take over the company through the Chapter 11 case.
TPI owed Oaktree ...